This section displays the transaction values considered in the returns and annexures along with the amount of liability, input credit, adjustments and VAT/CST payable or refundable. The assessable value of sales and purchases, and the tax applicable if any, are displayed under respective columns for the specific period. Drill-down reports are provided for local purchases, interstate purchases, local sales and interstate sales and VAT adjustments till the transaction-level.
This column displays the total sales (local and interstate), which includes the assessable value of taxable and exempted sales, and the corresponding tax amount.
● Click F1: Detailed to display the report in detailed mode.
You can view the total value of all sales recorded by selecting:
● State as Maharashtra, and Nature of transaction provided for sales within the state is categorised as Local Sales.
● State other than Maharashtra, and Nature of transaction provided for sales outside the state is categorised as Inter State Sales.
To view all the sales transactions
1. Select any of the rows displayed in italics, under Local Sales or Interstate Sales.
2. Press Enter.
This column displays the total purchases (local and interstate), which include the assessable value of taxable and exempt purchases, and the corresponding tax amount.
You can view the total value of all purchases recorded by selecting the:
● State as Maharashtra, and Nature of transaction provided for purchases within the state are categorised as Local Purchases.
● State other than Maharashtra, and Nature of transaction provided for purchases from outside the state are categorised as Interstate Purchases.
To view all the purchase transactions
1. Select any of the rows displayed in italics, under Local Purchases or Interstate Purchases.
2. Press Enter.
This column displays the aggregate of taxes payable or refundable for a particular period. Using this information, the required adjustment entries can be recorded. Excess input tax credit remaining after nullifying the output VAT against the input VAT, appears as refundable.
The various types of VAT adjustments done either increase or decrease the liability/input credit. The VAT adjustment entries display only the aggregate value of input and output VAT.
This column displays the amount available after considering the adjustment entries recorded against the VAT payable or refundable.
This column displays the CST payable on interstate sales, after considering the input VAT offset against the CST dues.
'Computation - VAT Form III E (Maharashtra)' has been shared with
